Canacol Energy Ltd T.CNE

Alternate Symbol(s): CNNEF

Energy Oil & Gas E&P

Canacol Energy Ltd. is a Canada-based natural gas exploration and production company with operations focused on Colombia. The Company’s production primarily consists of natural gas from the Esperanza, VIM-5 and VIM-21 blocks located in the Lower Magdalena Valley basin in Colombia. The Company’s production also included crude oil from its Rancho Hermoso block in Colombia (Colombia oil). It supplies approximately 17% of the country’s gas needs and more than 50% of the Caribbean Coast’s gas demand. Its gas fields which produce from the Cienaga de Oro and Porquero proven reservoirs are connected to its central Jobo gas processing and treatment facility through more than 169 kilometers of flow lines, mainly flexible steel flow lines. It operates over 1.5 million net acres in 14 exploration and production contracts in Colombia, with 11 of these contracts focused on exploring for and developing natural gas. These blocks are all located in the Lower & Middle Magdalena Basins of Colombia.

TSX:CNE - Post by User

Canacol Energy Ltd

Bullboard Posts

Post by jocotocoon Dec 09, 2010 10:06pm

464 Views

Post# 17827228

PRE

This is for that dichead that keeps reporting that PRE will take out CNE because a little birdie told him.

There have been some unconfirmed rumors about Pacific Rubiales (PRE) buying Canacol Energy, but we find
these are unfunded, as PRE has already secured a significant acreage in the Caguan-Putumayo basin with the
Tacacho, Terecay, Topoyaco, CAG 5, CAG 6 and PUT 9 blocks (2 million net acres), and all of them could be
equally or more prospective. Moreover, we consider that there are other more favorable acquisition alternatives
in the market after the considerable rise in the stock price, unless securing interesting but yet-to-be-proved
assets in the Caguan-Putumayo basin would be critical or strategic.
Jocotoco

Bullboard Posts

Paramount Resources signs $3.32 billion asset sale